Since 2001, the number of retirees who’ve seen benefits garnished has ballooned from about 20,000 to nearly 100,000. The worst part? Some of these retirees are simply among the growing number of older consumers who’ve taken on loans to help their kids or grandchildren through college. A recent report by the New York Federal Reserve found more than 17 percent of student loan borrowers are over the age of 50. And while slates for credit and other forms of debt can be wiped clean in bankruptcy, lawmakers have yet to add student loan debt to the list.

Read full article [here].
by Mandi Woodruff, Business Insider.

Posted: August 20th, 2012, by: admin. Categories: . Awaiting Comments.